LG banks on flat TV growth in 2009

Company aims for sales of 21 million flat-panel televisions this year

LG Electronics believes that driving the growth of flat-panel televisions will see it through this economically difficult year.

The company is aiming for a 16% overall market share in flat-panel televisions, with sales of more than 21 million units in 2009 alone, to become one of the top two flat-panel display makers in the world.

Breaking that figure down by category, LG hopes to sell 18 million LCD TVs for a 15% market share and 3 million plasma TVs for a 19% market share.

To drive this growth, the company will be focusing their efforts on ‘two-front’ strategy.

“LG will pursue a two-front business strategy during the current global downturn as a way of increasing sales momentum, investing more in marketing campaigns and research and development,” said K. W. Kim, CEO of LG Electronics Middle East and Africa.

LG also plans to expand its supply chain management and strengthen its partnership with panel maker LG Display to meet market demands and see the company through difficult times ahead.